Newspaper wrap-up: NBC Universal and consortium to acquire The Weather Channel

Laurie Pasternack — Mon, 07 Jul 2008 10:50:00 EST

Filed under: Newspapers, Magazines, General Electric (GE), Citigroup Inc. (C), Goldman Sachs Group (GS), Electronic Arts (ERTS), Blackstone Group L.P (BX)

MAJOR PAPERS:

The Financial Times reported that Bain Capital, The Blackstone Group LP (NYSE: BX) and General Electric Company's (NYSE: GE) NBC universal will acquire The Weather Channel properties from Landmark Communications for approximately $3.2B in a leveraged buy-out. The Weather Channel will be run separately.
A top Goldman Sachs Group Inc (NYSE: GS) trader is defecting to GLG Partners Inc (NYSE: GLG), the UK's second-largest hedge fund. Goldman's Driss Ben-Brahim, a partner in the firm and the head of its emerging market trading business, will take over GLG's $1.2B emerging markets special situations fund, the Financial Times reported.

OTHER PAPERS:

Take-Two Interactive Software Inc (NASDAQ: TTWO), which makes video games, will probably sign video game creator Ken Levine to a new contract. The deal would bolster Take Two's argument that its value exceeds the $25.74 per share that Electronic Arts Inc (NASDAQ: ERTS) has offered as a takeover price for the company, The New York Post believes.

WEB SITES:

Reuters reported that Deutsche Bank AG (NYSE: DB) is the only bidder remaining for Citigroup Incorporated's (NYSE: C) German retail operations. Sources said Commerzbank AG (OTC: CRZBY) dropped out of the running on Friday.

Newspaper wrap-up: NBC Universal and consortium to acquire The Weather Channel originally appeared on BloggingStocks on Mon, 07 Jul 2008 10:50:00 EST. Please see our terms for use of feeds.

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Disney, CBS, GE, see blue skies ahead for The Weather Channel

Jonathan Berr — Thu, 06 Mar 2008 17:07:00 EST

Filed under: Deals, Television, General Electric (GE), Time Warner (TWX), Private Equity, CBS Corp 'B' (CBS), Comcast Cl'A' (CMCSA)

Whomever buys The Weather Channel will probably see nothing but blue skies.ss

According to The New York Times' DealBook, The Walt Disney Company (NYSE: DIS), CBS Corp. (NYSE: CBS), General Electric Company (NYSE: GE)'s NBC, Time Warner Inc. (NYSE: TWX), Comcast Corp. (NASDAQ: CMCSA) and Liberty Media Inc. (NASDAQ: LINTA) are all vying to buy the Weather Channel from closely held Landmark Communication.

"Also, a handful of private equity firms, including Bain Capital, Providence Equity Partners and Madison Dearborn have reportedly indicated an interest, though they are unlikely to be serious bidders because of the tight credit markets," according to the paper.

Landmark reportedly is expecting to get $5 billion for the property though bidders tell the Times that $4 billion is a more realistic figure. I would venture that the company will get the higher figure because properties like this don't often come on the market.

Not only is the cable channel one of the most lucrative, its Web site is wildly popular as well. Unlike CNN, people don't just tune in when there is big news. Energy traders hang onto the channel's every word when they make bets on the hugely volatile commodities for oil, natural gas and electricity. People also rely on the company's forecasts to plan their lives. Moreover, The Weather Channel is in a good position to benefit from the public's growing interest in global warming.

Disney, CBS, GE, see blue skies ahead for The Weather Channel originally appeared on BloggingStocks on Thu, 06 Mar 2008 17:07:00 EST. Please see our terms for use of feeds.

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